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Last updated at: (Beijing Time) Monday, April 05, 2004

China approves inauguration of China Publishing Corp.

The Chinese State Council recently approved China Publishing Group would be transformed into China Publishing Corp. as the result of system reform. As an important measure to push the pilot reform of China��s cultural system forward, this move marks a milestone on system reform of publishing industry.


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The Chinese State Council recently approved China Publishing Group would be transformed into China Publishing Corp. as the result of system reform. As an important measure to push the pilot reform of China's cultural system forward, this move marks a milestone on system reform of publishing industry.

China Publishing Group was a public institution before the transformation and one of the pilot experimental units for China's cultural system. It is composed of 12 publishing and distribution organizations, such as the People's Literature Publishing House, The Commercial Press, Chung Kwa Book Co., Encyclopedia Publishing House, Joint Publishing, Xinhua Bookstore Head Office, China National Publications Imports and Exports (Group) Company, etc. When it is transformed into a corporation, it will perform assets or equity management to its affiliates. Modern corporate governance is expected to be established under the principle of "clarified ownership, identified rights and obligations, separate functions of government from enterprises, and scientific management".

Executives of China Publishing Corporation vowed to stick to the righteous publishing orientation, implement the quality strategy and create a world-class publishing giant bolstered by its specialty, powerful strength, scientific management and first-class benefits.

By People's Daily Online


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